SCHD vs UMAY
Schwab US Dividend Equity ETF vs Innovator U.S. Equity Ultra Buffer ETF - May
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. SCHD offers more diversification with 100 holdings.
Side-by-Side Comparison
| Metric | SCHD | UMAY | Winner |
|---|---|---|---|
| Expense Ratio | 0.06% | 0.79% | |
| AUM | $103.7B | $139M | |
| Dividend Yield | 3.31% | 0.00% | |
| Holdings | 104 | 6 | |
| YTD Return | +25.33% | +5.66% | |
| 1Y Return | +32.31% | +9.29% | |
| 3Y Return (annualized) | +15.40% | +11.30% | |
| 5Y Return (annualized) | +9.70% | +6.49% | |
| Volatility (annualized) | 13.6% | 6.3% | |
| Max Drawdown | -33.4% | -12.1% | |
| Fund Family | Charles Schwab Asset Management | Innovator ETFs Trust | |
| Category | Equity | Alternative | |
| Inception | Oct 20, 2011 | Apr 30, 2020 |
SCHD vs UMAY Performance
Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management and Innovator U.S. Equity Ultra Buffer ETF - May (UMAY) is a ETF from Innovator ETFs Trust. Over the past year SCHD returned +32.31% while UMAY returned +9.29%. Year to date, SCHD is up 25.33% versus a gain of 5.66% for UMAY.
Over three years, SCHD compounded at +15.40% per year against +11.30% for UMAY; over five years the annualized figures are +9.70% and +6.49% respectively. Across the full 6-year window we track, SCHD has the edge at +11.45% annualized vs +6.87%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 6.3% for UMAY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -33.4% for SCHD and -12.1% for UMAY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.65. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SCHD charges 0.06% per year while UMAY charges 0.79%. On a $10,000 position that is $6 vs $79 annually, a gap of $73 per year that compounds over a long holding period. On income, SCHD currently yields 3.31% against 0.00% for UMAY.
Holdings Overlap
SCHD and UMAY share 0 holdings out of 101 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SCHD or UMAY?
SCHD has an expense ratio of 0.06% while UMAY charges 0.79%. SCHD is the cheaper option. On a $10,000 investment, that is $73 per year of difference.
Which performed better, SCHD or UMAY?
Over the past year SCHD returned +32.31% vs +9.29% for UMAY, so SCHD leads on 1-year performance. Over the longest common window we track (6 years), SCHD annualized +11.45% vs +6.87% for UMAY. Past performance does not guarantee future results.
Which is riskier, SCHD or UMAY?
SCHD has been the more volatile fund at 13.6% annualized versus 6.3% for UMAY. Worst drawdown: SCHD -33.4% vs UMAY -12.1%.
Should I hold both SCHD and UMAY?
SCHD and UMAY have a monthly-return correlation of 0.65, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SCHD and UMAY?
SCHD and UMAY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 101 unique securities.
Which pays a higher dividend, SCHD or UMAY?
SCHD yields 3.31% while UMAY yields 0.00%, so SCHD currently pays the higher dividend yield.
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